NASDAQ:CRON Illinois recently made huge progress by being the first to legalize marijuana through state legislation. I think this is going to be the turning point for legalization across the United States, and potentially even federal legalization sometime in the next couple years. The whole gay marriage thing did something similar a few years back, and I think...
So far this week is a bull follow through bar. The bull breakout gap is still open below. The bulls will likely get two legs sideways to up even if only a small rally and test of the 78 tight trading range. If the bulls get strong consecutive bars over the coming weeks, it will increase the likelihood of a second leg up and test of the 160 high. If instead,...
ACB NYSE is currently in the dead center of the bull flag trading range, and a converging triangle. This is where the directional probability is very close to 50/50. However the bulls have a slight advantage because it is a bull flag trading range, and there are bull gaps below. Prices are currently stalling at the failed bear reversal, where trapped bears may...
updating long term... biggest taint tickle comes from seeing these long term charts have reactions to analysis done days,weeks,months ago... the tickle is prolly hindsight kicking me in my taint. Dat bottom right channel doe!
HEXO reversed down from a nested parabolic wedge, larger wedge and large low 2. The follow through selling has been good. The bears will likely get a second leg down before taking profits and before the bulls will look to buy again. This market is still in a bull trend, but wedges often lead to two legs sideways to down, convert the market into a trading range...
The buying pressure has been strong over the past few months on a test of the all time high. But this market is still in a large trading range, and the buying pressure is climactic. This is more likely a buy vacuum test of the high of the range than the start of a strong bull trend. Instead, there will probably be profit taking around or above the all time high...
Although $ZYNE is developing some bull strength, it is still in a large bear trend or trading range. The bulls reversed the market up on the monthly chart from a large high 2, and will probably get some form of a second leg up. However since the IPO this market has been sideways to down, decreasing the likelihood of a strong bull trend developing. The bulls...
Resistance ~ $20 - $21 Support: Trend Line EMA 20&50 Lines Enter ~ Whenever the price touches the trend line TP 1 ~ $21 Stop Loss ~ $14.5 GL!
A possible final bottom for $TLRY could be around $34 , last swing high of last summer. The EW count now seems to be still incomplete and the weakness of the entire sector could bring the price in that sweet spot. Keep in mind that Tilray is still one of the most overvalued stock in the cannabis sector with a market cap in the hundreds of times its revenues.
8 and 26 EMA crossed bullish on the 4hr chart. Daily indicators are hitting the sweet spots. If we can just get her above the 50MA, we may be looking at the start of another bull run. Needs to push just a little higher. Levels on watch!
The high 2 micro double bottom bull flag has triggered from last week. The bears were unable to fill the $10 bull gap. Bulls likely to get second leg up from strong bull rally. They want a measured move up based on the spike or a leg 1 = leg 2 measured move. Prices will likely soon enter a bull channel. The bears need to generate strong selling pressure...
Lesson 4 Know what you want in the market Contrary to what most believe, successful traders do not actually trade constantly. Attempting to trade constantly leads to increased commission costs, random trading, and compound mistakes. In fact, successful traders spend most of their time doing absolutely nothing! How long does it take to enter an order? A...
TLRY has formed a second entry for a parabolic wedge bull flag and larger high 2, although a doji bar. If the bulls are unable to regain control soon - something is wrong with the bull trend premise. If the bulls do not return within the next few weeks, prices are more likely to be in a trading range and will likely test the tight trading range of the open...
The only green stock in weed sector, although its extraction company. MACD crossover up and I think it can run for another day or two. VFF beat earnings, so the whole mj sector could be green 1 or 2 days. May 14th has more earnings from mj companies.